Import Export Code Registration in India

Posted by Ananya Nair on October 31st, 2019

IEC or Import Export Code is a 10 digit code issued by Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Government of Indian companies. The code is issued to the business dealing in import and export of goods. IEC has a great significance for the world of business. This section allows your business to quickly enhance and improve your global reach. Without having IEC importers are not allowed to import any type of goods and exporters are also not eligible to take the advantages from DGFT, Customs and Export promotion council etc. Import and Export businesses have a great role to improve the economic infrastructure of a country after raising the Gross Domestic Product or GDP.        

IEC code registration is required for the individuals who are dealing business with import or export of goods in India. Only in some special cases IEC is not required –

• If you import or export goods for personal reason, not for any business purpose.
• Import or export goods through Government ministries, divisions or notified charitable groups.

Import Export code is ideal for the people specially who are new in the business and want to break the barrier to flourish their business products or services to international market. IEC is a gateway to make your business global. There are many useful features of Import Export code:

Code with the name of individual - IE code can be obtained with the name of an individual. So if you don’t have any business entity still you could get the code with your name.

No file return - You don’t need to return any file for IEC. After issuing the IEC, no further step is required to maintain the validity of IEC.

No Renewal is required – After submitting all the documents and completing the registration process IEC is generated for lifetime. No renewal of your IEC is required.

Unlock the barrier – IEC helps your business to unlock the barrier to move to the international market. After reaching international market you could enhance the quality of your business.

Healthy business relationship - IEC maintains a healthy business relationship between two clients. While endorsing the global reach it also improves a business standard of your entity.

Restricts illegal goods transportation - To achieve IEC you must provide all the authentic information. No one can achieve IEC after providing fake information. It’s a great way to restricts transportation of illegal goods.

Benefits in the form of subsidies - Firms or companies after delivering the IEC code get benefits in the form of subsidies from DGFT, Customs & Export Promotion Council.

What are the documents required for Import Export Code Registration in India?

For IEC registration in India there could be different requirement of documents for business entity and individuals:

For Entity - In case of any Business Entity below documents are required:

•          PAN card copy of firm/company
•          Cancelled cheque of firm
•          Water/electricity Bill of business place
•          Telephone bill in the name of the business
•          Copy of property papers (If property is owned)
•          Copy of rent agreement (If property is rented)
•          Bank statement of firm/company
•          MOA and AOA (In case of company)
•          Copy of service tax return (In case of proprietorship)
•          Incorporation certificate (In case of company)
•          One Company letter head (In case of company)

For Individuals - If you’re an individual like a doctor, partner, proprietor or someone different then you need to submit the below documents:

•          Passport sized photograph
•          Copy of voter ID card or Aadhaar card is required
•          In case of a company, authority of letterhead from other directors is required
•          In case of an individual a copy of telephone bill is required where the name of the                 individual is mentioned
•          Letter of authorization (in case of partnership firm)
•          For any company board resolution or self declaration copy is required
•          Partnership deed copy is required, in case of any partnership firm
•          Individual’s cancelled cheque is also required

IEC Registration process is quite simple. The entire process consists of the below steps:

Send Application to DGFT – You need to send application to DGFT in Aayaat Niryaat Form 2A format in the region where registered office of the company is established. You can also use online facility to obtain your IEC code for business. 

Process of application - Processing of the application can be started with complete documentation on the below:

Details of business, its assets, directors etc.

Bank account details

Bank account certificate

All the documents can be submitted along with Aayaat Niryaat Form 2A. Digital Signature is also required on the form.

Payment of IEC Fee – Once you complete the application process you need to submit the same to DGFT with required fee for the application. If any modifications or corrections are required then Import Export department can send back the application to you.

Issue of Import Export code – After a detailed verification process DGFT issues Import Export code to your business in both soft and hard copies.